Mortgage Rates Newsletter - Market AnalysisDaily Mortgage Rates Update Archive Descriptionhttp://www.mortgagenewsdaily.com/reports/mortgage_rates/archive
Mortgage Rates Surge to 2-Month LowsGet out your calendar. Flip, swipe, or glance back at May 29th. That's where we have to go to see mortgage rates any lower than they are today. After a delightful, but incredibly boring streak of mostly good days, rates finally swung for the fences. Actually, that might be a bit of a stretch depending on your perspective, but consider the following. Mortgage rates tend to be broken up in .125% increments. For the past several weeks (or more, depending on the lender), rates haven't moved enough for the actual interest rate to change. Instead, the upfront costs act like fine-tuning adjustments for any given rate. In other words, you might be quoted 4.125% on two different days, but with $1000 origination one day and only $500 the next. The rate is the same, but paying less for it means the effectivehttp://www.mortgagenewsdaily.com/reports/mortgage_rates/2015/7/31/1732
http://www.mortgagenewsdaily.com/reports/mortgage_rates/2015/7/31/1732Sat, 01 Aug 2015 01:33:48 GMTMortgage Rates Stay Steady After GDPMortgage rates were very close to unchanged despite market volatility surrounding the release of today's GDP figures. GDP can occasionally cause a significant response in mortgage rates, and that's especially true of the "advance" release. That's due to the fact that the "advance" release is the first look at GDP for any given quarter. Subsequent releases merely revise the previous quarter's result. Moreover, the Commerce Department implements revisions once a year that greatly affect past GDP reports. So not only are we getting the first look at last quarter's GDP, but also a potentially significant revision to GDP numbers over the past 2+ years. Today's revisions painted a generally weaker picture of economic growth since 2012. But the most recent quarter showed slightly stronger inflationhttp://www.mortgagenewsdaily.com/reports/mortgage_rates/2015/7/30/1730
http://www.mortgagenewsdaily.com/reports/mortgage_rates/2015/7/30/1730Thu, 30 Jul 2015 19:45:42 GMTMortgage Rates Barely Budge After Fed AnnouncementMortgage rates had an exceptionally boring day despite the presence of the Fed Announcement. Major communications from the Fed (which include announcements, meeting minutes, and certain speeches) always have the potential to cause significant movement in mortgage rates. Obviously, today's didn't. That's not too surprising considering the statement was very little-changed from the previous version. Moreover, there's broad consensus among market participants that September is the earliest possible month for a Fed hike, and not even the most likely. That's all well and good, but there are plenty of similar circumstances where the Fed's chosen verbiage nonetheless causes volatility. So today is a victory in that sense, but a loss in the sense that rates didn't resume their previously positive trendhttp://www.mortgagenewsdaily.com/reports/mortgage_rates/2015/7/29/1728
http://www.mortgagenewsdaily.com/reports/mortgage_rates/2015/7/29/1728Wed, 29 Jul 2015 22:23:09 GMTMortgage Rates Finally Buck TrendMortgage rates bucked the recent trend of steady, modest improvements to end just slightly higher today. That said, the move was just as small as most recent examples, and barely returns most lenders to last Friday's rates. At the time, those were the best of the month, so the current situation could be much worse. Moreover, the small day-to-day changes mean that we're not really talking about "rates" moving higher and lower as opposed to the closing costs associated with prevailing rates. In other words, the effective rate is changing microscopically, but not the contract rate in most cases. As for contract rates, they continue to hold in the 4.0-4.125% range for conventional 30yr fixed loans on top tier scenarios. There is still a small minority of lenders quoting 3.875% Yesterday, we discussedhttp://www.mortgagenewsdaily.com/reports/mortgage_rates/2015/7/28/1726
http://www.mortgagenewsdaily.com/reports/mortgage_rates/2015/7/28/1726Tue, 28 Jul 2015 22:04:40 GMTMortgage Rates Continue Pushing July LowsMortgage rates continued modestly lower for the 5th straight day, further extending Friday's push to the lowest levels of July. Even so, most borrowers will see the same rates on lenders quotes, with the improvements in the form of lower closing costs compared to Friday. The most prevalently quoted conventional 30yr fixed rates remain in a range between 4.0 and 4.125% for top tier scenarios. Recent gains help more and more lenders move to the lower end of that range, while a very small minority are at 3.875%. Last week's caution still applies: any time we see this many positive days in a row, rates are increasingly likely to pull back. This will only become more true if rates continue to improve, but there is no implicit commentary about how long such a pull-back would last or how far it wouldhttp://www.mortgagenewsdaily.com/reports/mortgage_rates/2015/7/27/1724
http://www.mortgagenewsdaily.com/reports/mortgage_rates/2015/7/27/1724Mon, 27 Jul 2015 21:48:20 GMT